A tollway unit of Metro Pacific Investments Corp. (MPIC) plans to raise P25 billion through the issuance of fixed rate bonds, with P6 billion slated to be offered for its initial tranche.
In a disclosure to the stock exchange on Friday, March 9, MPIC said its indirect subsidiary NLEX Corp. has filed a registration statement with the Securities and Exchange Commission for the issuance.
Local debt watcher Philippine Ratings Services Corp. (PhilRatings) gave the bonds a PRS Aaa rating, which is the highest issuer rating in the company’s credit rating scale. This indicates that the company has the capacity to meet its financial obligations. — Arra B. Francia